Enterprise Blockchain Trends – Food and beverage industry | Adoption Growth Trend Analysis | Popular Use Cases | Geographic Break-up | Vendors Landscape
2018 was a very active year when it comes to enterprise adoption of the blockchain technology. The food and beverage industry was at the forefront of this adoption, as the number of enterprises trying out the technology grew multifold. At the beginning of the year, industry giants such as Coca Cola and Starbucks gave a vote of confidence to this technology by rolling out their pilot projects, and it was soon followed by widespread adoption by small and medium-sized companies. Another facet of enterprise adoption was the keen interest shown by a wide spectrum of the industry stakeholders that included government departments and agencies, NGOs, farmer and trade associations, and regulators, among others.
To sum up the activity during the year, we present below some broad trends that showcase the pace and direction of adoption.
Trend # 1
Enterprise blockchain adoption continued full throttle in 2018.
Enterprise blockchain adoption in the food and beverage industry jumped 2.9x in 2018, as 76 new projects were initiated during the year, against 26 projects initiated in 2017. This sharp growth underlines the fact that enterprises (including government organizations and agencies) are confident about this technology.
Trend # 2
The adoption rate steadied in the latter half of 2018.
A closer look at new blockchain projects starts, reveals that largely the adoption remained steady during 2018, with a slight decline in the last quarter. However, the second quarter of the year saw an exceptional spike in new project starts, mainly because of a couple of vendors announcing multiple projects during that time. With the mayhem in cryptocurrency markets, it will be interesting to see if the confidence of enterprises remains intact in 2019.
Trend # 3
United States is the hub of blockchain action in F&B industry.
Europe and Asia are the leading geographic regions in terms of blockchain adoption with 31.7% and 27.5% of the projects, underway in countries in these regions. However, in terms of countries, United States leads all other countries by a very large margin with 28 projects, followed by United Kingdom and China with 10 projects each.